02 November 2018, The U.S. Rail
Infrastructure Market is projected to reach USD 5.93 billion by
2025. The market is expected to witness a lucrative growth on account of
increasing population and demographics in this country. United States is
becoming an urbanized country and it is anticipated that it will cover larger
network of metropolitan areas. Growing population and effective investment in
transportation infrastructure is anticipated to add rail Infrastructure market
growth over the forecast period. According to U.S. Department of
Transportation, Federal Railroad Administration, U.S. rail industry consist of
140,000 rail miles operated by class 1 railroads, 510 local railroads, and 21
regional railroads. Industry also provides 221,000 jobs across United States
and also offers various public benefits such as highway fatalities, logistics
cost, greenhouse gases and fuel consumption, reduction in road congestion, and
public infrastructure maintenance cost. Rising passenger volume, increasing
number of rail routes and network, rolling infrastructure and stock, growing
awareness regarding passenger rail is anticipated to boost the U.S. rail
infrastructure market over the forecast period. Increasing invest to modernize
and expand the capacity of the rail and to purchase the equipment is
anticipated to add U.S. rail infrastructure market over the forecast period.
However, growing dominance from automobiles and airplanes is anticipated to be
the key restraint for U.S. Rail Infrastructure Market.
Railroads are continuously developing and
researching high tech innovations to enhance rail operations which in turn is
expected to add market growth. Growing investment in locomotives, freight cars,
computer equipment, highway equipment, and other equipment is anticipated to
add U.S. rail infrastructure market growth over the forecast period. According
to American Public Transportation Association, in 2016, number of light rail
passengers in 14 United States cities grew by an average of 4.3%, whereas
Houston, New Orleans, Baltimore, Seattle, and Phoenix showed nearly
double-digit growth. Increasing problems related to traffic congestion as well as
parking capacities had led parliaments and many city administrations to
rediscover the advantage of mass transit. As a result, there are cities in
United States that especially seeking to make neighborhoods around rail
stations more attractive and others making less crowded areas more attractive
by providing new rail lines. Increasing investment on rail infrastructure is
expected to boost the market over the forecast period. According to U.S.
Department of Commerce, U.S. freight operators invested over 600 billion
dollars from 1980 to 2015 for the maintenance and expansion of train fleets and
rail infrastructure.
Rail infrastructure industry in United States is
consolidated in nature with limited number of industries operating in this
country accounted for most of the market shares. Some of the well-known players
in this industry include National Railroad Passenger Corporation, BNSF Railway
Company, Norfolk Southern Corp, The Kansas City Southern Railway Company, and
Union Pacific Railroad Company. In addition, approval of light rail extension
projects in this country is expected to add market growth over the forecast
period. For instance, in November 2017, Massachusetts Bay Transportation
Authority approved build and design agreement for Boston’s green line light
rail extension.
Browse Details of Report @ https://www.hexaresearch.com/research-report/us-rail-infrastructure-market
Hexa Research has segmented the U.S. rail
infrastructure market report based on type and ownership:
Segmentation
by type, 2015 - 2025
• New
track construction
• Track
addition & maintenance
Segmentation
by ownership, 2015 - 2025
• Private
rail road
• Public
rail road
Key players
analyzed:
•
National Railroad Passenger Corporation
• BNSF
Railway Company
• Norfolk
Southern Corp
• The
Kansas City Southern Railway Company
• Union
Pacific Railroad Company
Browse Related Category Reports @ https://www.hexaresearch.com/research-category/automotive-and-transportation-industry
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